How to enable Lot / Batch wise taxes in Sale?

YouTube: How to Enable Lot / Batch Wise Taxes in Sale?

How to Enable Lot / Batch Wise Taxes in Sale?

 Overview

This tutorial introduces the capability of handling varied tax scenarios across inventory batches, a feature ideal for businesses using Logic ERP. It demonstrates how to apply different tax rates to various lots of inventory to optimize billing and tax calculations.

Key Features

• Control tax rates per inventory lot for more accurate billing.

• Update and apply lot-specific tax rates seamlessly.

Step-by-Step Guide

• Sale Voucher Configuration: Navigate to Sale Voucher Configuration. Choose the billing series and enable the "Use lot wise taxes" option.

  Let's enable this feature and observe its impact.

• Navigate to "Setup Taxes/Setup Lot Wise Taxes for Sale":

  1. Choose the appropriate lot associated with the item. Use the refresh button if needed.

  2. Apply Tax Rate: Select the appropriate tax rate for the chosen lot from the dropdown menu. Ensure you save your changes.

 From the drop down list, you can select the taxes you wish to apply to the selected lot.

Example

• Current Scenario: The tax rate is set to 18%.

• Update: Change to 5% for a specific lot.

• Process: Go through the "Set lot wise taxes for Sale" option, select the relevant item, and apply the updated rate.

• Sale Bill: When a specific lot is selected in the Sale Bill, the tax rate changes from 18% to 5%.

Conclusion

This feature enhances billing precision with tailored tax application.